Bank of Hawaii increased its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 12.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,568 shares of the medical research company’s stock after purchasing an additional 1,689 shares during the quarter. Bank of Hawaii owned approximately 21.45% of Amgen worth $2,903,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Financial Advisory Service Inc. boosted its stake in Amgen by 0.3% in the second quarter. Financial Advisory Service Inc. now owns 1,974 shares of the medical research company’s stock valued at $340,000 after acquiring an additional 5 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after acquiring an additional 5 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in Amgen by 0.6% in the second quarter. Capital Advisors Ltd. LLC now owns 1,103 shares of the medical research company’s stock valued at $190,000 after acquiring an additional 7 shares during the last quarter. Ballentine Partners LLC boosted its stake in Amgen by 0.3% in the second quarter. Ballentine Partners LLC now owns 3,441 shares of the medical research company’s stock valued at $620,000 after acquiring an additional 9 shares during the last quarter. Finally, Hudock Capital Group LLC boosted its stake in Amgen by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,921 shares of the medical research company’s stock valued at $330,000 after acquiring an additional 10 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.
Shares of Amgen, Inc. (AMGN) opened at $183.38 on Wednesday. Amgen, Inc. has a 12-month low of $150.38 and a 12-month high of $191.10. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. The stock has a market cap of $133,120.00, a P/E ratio of 16.57, a PEG ratio of 2.60 and a beta of 1.36.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio is 41.55%.
Amgen announced that its board has authorized a share buyback program on Wednesday, October 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
A number of research firms have weighed in on AMGN. Mizuho set a $192.00 target price on shares of Amgen and gave the company a “buy” rating in a research note on Friday, December 22nd. Zacks Investment Research cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Royal Bank of Canada dropped their target price on shares of Amgen from $192.00 to $188.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 26th. Credit Suisse Group reiterated a “neutral” rating and issued a $186.00 target price (up from $177.00) on shares of Amgen in a research note on Friday, September 29th. Finally, Oppenheimer reissued a “buy” rating and issued a $205.00 price target on shares of Amgen in a research report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $190.15.
In related news, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $176.83, for a total transaction of $269,665.75. Following the sale, the executive vice president now directly owns 56,106 shares in the company, valued at approximately $9,921,223.98. The disclosure for this sale can be found here. Insiders have sold a total of 7,050 shares of company stock worth $1,225,765 in the last ninety days. 0.19% of the stock is currently owned by insiders.
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Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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